Exercise 13-4 Determination of income effects from common-size and trend percents L.O. P1, P2 Common-size and trend percents for Aziz Company’s…

Exercise 13-4 Determination of income effects from common-size and trend percents L.O. P1, P2 Common-size and trend percents for Aziz Company’s sales, cost of goods sold, and expenses follow. Common-Size Percents Trend Percents 2012 2011 2010 2012 2011 2010 Sales 100.0 % 100.0 % 100.0 % 103.7 % 102.5 % 100.0 % Cost of goods sold 61.9 60.5 57.7 101.2 107.3 100.0 Total expenses 14.2 13.7 14.0 105.2 100.3 100.0 Determine net income as a percent of sales for the following years. (Round your intermediate calculations to 1 decimal place and final answers to 2 decimal places. Omit the “%” sign in your response.) Years Net income 2010 % ? 2011 % ? 2012 % ?